Treasury Department explores ways to block tax inversions

11:11 PM,
Aug. 5, 2014

U.S. Treasury Secretary Jacob Lew

Written by

Kevin McCoy
Gannett

While urging congressional action, the Treasury Department is exploring ways to unilaterally block a surge of U.S. companies shifting their headquarters overseas in search of major tax savings.

The new escalation of the White House battle against corporate tax inversions came as a key congressional Democrat circulated a draft of potential legislation that could make it more difficult for U.S. companies to re-incorporate overseas.

Separately, U.S. drugstore giant Walgreens has ended its exploration into moving its headquarters to Europe in an effort to save billions of dollars in ...